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01 March 2024 Photo Unsplash
Africa
Collaborating across continents, the Centre for Gender and Africa Studies at the University of the Free State (UFS), alongside the Centre for African Studies at Jawaharlal Nehru University (JNU) in India and the African Studies Association of India (ASA India), held a pivotal international webinar titled 'Africa’s Global Engagements: Opportunities and Challenges,' on 27 and 28 January 2024.

In the midst of a global landscape marked by rapid changes, Africa finds itself at the epicentre of a new wave of international interest. This intrigue stems from a myriad of factors, ranging from the continent’s abundant natural resources to its strategic geopolitical positioning. However, amidst this renewed attention, questions arise regarding Africa’s agency and its place in the evolving global order.

In recent times, there has been a notable surge in global actors vying for influence in Africa. From former colonial powers to emerging economies like China and India, various stakeholders seek to engage African nations on multiple fronts, spanning from economic cooperation to security collaborations. Against this backdrop, it becomes imperative to delve into Africa’s international engagements to grasp the nuances of its evolving role on the global stage.

Addressing this imperative, the Centre for Gender and Africa Studies at the University of the Free State (UFS), in collaboration with the Centre for African Studies at Jawaharlal Nehru University (JNU) in India and the African Studies Association of India (ASA India), convened an international webinar titled, Africa’s Global Engagements: Opportunities and Challenges. Held on 27 and 28 February 2024, the event was jointly opened by Prof Vasu Reddy, Deputy Vice-Chancellor of Research and Internationalisation at the UFS and Prof Ajay Dubey, former Pro Vice-Chancellor at JNU and currently a professor in the Centre for Africa Studies at JNU. The conference brought together scholars and policymakers from diverse backgrounds and regions, united in their quest to comprehensively understand Africa’s evolving position in the global arena.

In his opening remarks, Prof Vasu Reddy, underscored the timeliness of the conference aligning it to the institution’s visionary framework, Vision 130. He highlighted the centering of Africa as a focal point for addressing broader global challenges emphasising the interconnectedness of Africa’s experiences with broader global narratives. Prof Reddy articulated how Africa serves as a nexus for transnational interactions, intertwining diverse histories, politics, and socio-economic dynamics with the larger global discourse.

Moreover, the conference shed light on the concept of the “Global South” and its implications in the contemporary global order. Participants deliberated on the complexities of African agency within this framework, examining how African states navigate their engagements with a myriad of international actors while asserting their own interests and priorities.

The event not only symbolised a collaboration between the UFS and JNU, as outlined in their Memorandum of Understanding (MoU), but also signified a shared commitment towards prioritising engagements within the Global South. Through platforms like these, institutions like UFS and JNU demonstrate their dedication to fostering meaningful dialogues and scholarly exchanges that transcend geographical borders.

As Africa continues to navigate its place in the fast-changing global landscape, initiatives such as this webinar serve as critical platforms for fostering mutual understanding and cooperation among scholars and policymakers worldwide. By engaging in nuanced discussions and collaborative efforts, stakeholders can collectively contribute to shaping a more inclusive and equitable global order.

News Archive

Producers to save thousands with routine marketing strategies, says UFS researcher
2014-09-01

 

Photo: en.wikipedia.org

Using derivative markets as a marketing strategy can be complicated for farmers. The producers tend to use high risk strategies which include the selling of the crop on the cash market after harvest; whilst the high market risks require innovative strategies including the use of futures and options as traded on the South African Futures Exchange (SAFEX).

Using these innovative strategies are mostly due to a lack of interest and knowledge of the market. The purpose of the research conducted by Dr Dirk Strydom and Manfred Venter from the Department of Agricultural Economics at the University of the Free State (UFS) is to examine whether the adoption of a basic routine strategy is better than adopting no strategy at all.

The research illustrates that by using a Stochastic Efficiency with Respect to a Function (SERF) and Cumulative Distribution Function (CDF) that the use of five basic routine marketing strategies can be more rewarding. These basic strategies are:
• Put (plant time)
• Twelve-segment pricing
• Three-segment pricing
• Put (pollination)(Critical Moment in production/marketing process), and
• Pricing during pollination phase.

These strategies can be adopted by farmers without an in-depth understanding of the market and market-signals. Farmers can save as much as R1.6 million per year on a 2000ha farm with an average yield.

The results obtained from the research illustrate that each strategy is different for each crop. Very important is that the hedging strategies are better than no hedging strategy at all.

This research can also be applicable to the procurement side of the supply chain.

Maize milling firms use complex procurement strategies to procure their raw materials, or sometimes no strategy at all. In this research, basic routine price hedging strategies were analysed as part of the procurement of white maize over a ten-year period ranging from 2002–2012. Part of the pricing strategies used to procure white maize over the period of ten years were a call and min/max strategy. These strategies were compared to the baseline spot market. The data was obtained from the Johannesburg Stock Exchange’s Agricultural Products Division better known as SAFEX.

The results obtained from the research prove that by using basic routine price-hedging strategies to procure white maize, it is more beneficial to do so than by procuring from the spot market (a difference of more than R100 mil).

Thus, it can be concluded that it is not always necessary to use a complex method of sourcing white maize through SAFEX, to be efficient. By implementing a basic routine price hedging strategy year on year it can be better than procuring from the spot market.

Understanding the Maize Maze by Dr Dirk Strydom and Manfred Venter (pdf) - The Dairy Mail


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